Edgestream Partners L.P. Acquires Shares of 10,123 Zoom Video Communications, Inc. (NASDAQ:ZM)

Edgestream Partners L.P. bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,123 shares of the company's stock, valued at approximately $826,000.

Other hedge funds have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its position in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after acquiring an additional 190 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after purchasing an additional 258 shares during the last quarter. Avior Wealth Management LLC increased its holdings in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications during the fourth quarter worth about $39,000. Finally, Truvestments Capital LLC bought a new position in Zoom Video Communications during the third quarter worth about $37,000. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Stock Performance

ZM opened at $73.15 on Wednesday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market capitalization of $22.42 billion, a PE ratio of 24.38, a PEG ratio of 5.48 and a beta of 0.26. The business's 50-day simple moving average is $80.95 and its 200 day simple moving average is $77.67.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 10,817 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $851,189.73. Following the transaction, the insider now directly owns 117,760 shares in the company, valued at approximately $9,266,534.40. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock worth $29,496,892 over the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZM. Wells Fargo & Company raised Zoom Video Communications from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Morgan Stanley upped their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 18th. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Citigroup reduced their target price on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $90.05.

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Zoom Video Communications Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.

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